- Dubai’s financial regulator approves Ripple’s RLUSD stablecoin for use in the DIFC economic zone.
- More than 7,000 DIFC companies can now use RLUSD for transactions and payments.
- Unicâmbio also partnered with Ripple to utilize RLUSD and XRP to facilitate faster and cheaper cross-border payments between Europe and Brazil.
The Dubai Financial Services Authority (DFSA) has given its official approval for Ripple’s enterprise-grade stablecoin RLUSD to be used within the Dubai International Financial Centre (DIFC). The move makes it the first blockchain firm to get the stamp of approval from the DFSA which granted Ripple its license in October.
Currently, more than 7,000 businesses operate in the DIFC. With RLUSD, the payment asset is expected to factor in as one of the prominent assets within one of the region’s most significant economic zones. Launched in December 2024, the stablecoin is backed 1:1 by US dollar reserves and issued natively on both the XRP Ledger and Ethereum networks.
Ripple’s regulatory track record still strengthens globally. The DFSA approval comes after RLUSD had already been given the green light to operate in tightly managed financial environments by the New York State Department of Financial Services (NYDFS).
Ripple partners with Unicâmbio for Europe-Brazil corridor
In a related development, Ripple also partnered with Unicâmbio, one of the leading foreign exchange firms in Portugal. Ripple’s On Demand Liquidity (ODL) platform, enabled with XRP and RLUSD, will be utilized for the collaboration to streamline remittance and payment activities between Europe and Brazil.
The payment solution obviates the need to hold pre-funded bank accounts in destination countries. Unicâmbio can settle transactions instantly using digital assets instead. The system also permits businesses to transact 24/7 instead of spending time and paying extra fees associated with traditional banking hours.
Ripple’s global infrastructure and scalable technology made it the ‘ideal’ partner for the company’s international ambitions, Adriana Jeronimo, Executive Board Member at Unicâmbio, said. Ripple boasts experience in cross-border payments and demonstrated the ability to deliver value quickly for corporate clients, she underscored.
Bitget listing expands RLUSD market reach
This listing of RLUSD on Bitget‘s spot trading platform further strengthens RLUSD’s presence, as we previously reported. Currently, Bitget manages over $7.1 billion in assets and has a daily spot trading volume of over $3.4 billion.
The listing opens RLUSD to more global investors at a time when institutional demand for regulated stablecoins is increasing. Additionally, its presence on a high-volume exchange gives it the liquidity and visibility necessary to grow adoption for enterprise-grade digital finance.
The dual network approach of Ripple, by leveraging Ethereum and XRP Ledger allows RLUSD to be operationally flexible and compliant with multiple payment channels. With direct integration now given approval for use in the DIFC, RLUSD is set for wider use across the Middle East.
